Event management is a part of management studies that aims to apply science of project management to the organization of functions, festivals and special occasions with the aim of successfully conducting the entire event to achieve its purpose. The corporate and business world has realized the significance of a smoothly conducted business in their growth and expansion plan and therefore event management has emerged as an independent market and entrepreneurship area. Today concept and knowledge of event management is applied from events like Olympic, Asian games to corporate parties and even organizing a coffee evening with just 10 guests.
The whole idea is infusing professionalism in the entire business of handling the events.
The international corporate world has understood the significance of event management as a major public relation exercise that is required for it to seamlessly conduct its operations. This issue takes important form especially when multinational companies are increasingly diversifying their operations. Often they are required to hold promotional events, fete, programs and cultural-social evening in places where they have no prior exposure to the aesthetical tastes and preferences of the local population.
Under such circumstances, a flaw or incorrect approach towards presentation and promotional activity can backfire, and bring discredit to the company and its further plans in the popular perception. Under these circumstances, a local event management company with understanding of local customs and tastes can help the multinational corporate giants by successfully organizing the event.
Event management offers corporate heads with readymade set of solutions for a wide variety of situations, whether it is conducting franchisee meeting, a Q&A round with employees, a corporate presentation, a sales and marketing presentation, product launching, satellite video meeting, trade shows and parties, sport shows, and almost every conceivable function involving logistic, management planning and effective and timely mobilization of resources . With integration and convergence of various streams of media, event management also now comprises over media management, press release and public address, thus helping to provide a completely polished front to the corporate sector.
As it can be understood, event management requires a sound knowledge by the organizing company on the purpose of the event, target audience, securing sponsorship and exhibiting complete integrity in securing objectives of the event. As a lot has to be achieved in a limited time frame, every event runs on a risk that a slight mistake can result in a flop show, causing embarrassment to the sponsors and the promoters.